Creating a Loyalty/Rewards Program for Customers
I am thinking of implementing this into my business as I think it'll really help me retain the customers that I like to work with as well as help get me new ones if I were to throw in some sort of referral incentive. I've been researching around just to brainstorm and I have some notes and ideas I've put together, but just wanted to come here and ask fellow business owners how their experience has been if you've introduced this sort of concept. What are the best parts that have worked for you? What should you avoid when starting a loyalty program? How do you make it unique to your business?
In my industry there is a time cap for how long customers can remain my customers, so I am trying to take this into consideration. Are there some business structures where a loyalty program is just not viable (ie real estate sales)?
I searched around RFD forums and didn't find an exclusive thread about this, so perhaps if we could all chime in and toss some ideas around here we could all benefit.
Just to get the ball rolling, I've learned that offering just a discount isn't very promising, and also interferes for when you decide to increase prices.
In my industry there is a time cap for how long customers can remain my customers, so I am trying to take this into consideration. Are there some business structures where a loyalty program is just not viable (ie real estate sales)?
I searched around RFD forums and didn't find an exclusive thread about this, so perhaps if we could all chime in and toss some ideas around here we could all benefit.
Just to get the ball rolling, I've learned that offering just a discount isn't very promising, and also interferes for when you decide to increase prices.
"A bank is a place that will lend you money if you prove that you don't need it." -Bob Hope
"A bargain is something you can't use at a price you can't resist." -Franklin Jones
"A bargain is something you can't use at a price you can't resist." -Franklin Jones